Manager / Senior Manager, AI Model Risk Oversight & Challenge

Manulife; Halifax; Hybrid; CAD 113,000 - 163,000; Full time

Job summary

Manulife seeks an experienced Manager / Senior Manager to provide independent second-line oversight of AI model risk across the enterprise. You will assess risk management, validation, monitoring, and governance for medium- and high-risk AI initiatives, shaping safe adoption of Generative AI and Agentic AI.

You will challenge stakeholders, communicate findings, and prepare executive risk assessments for governance committees, influencing enterprise-wide risk practices.

Qualifications

• 7+ years of experience for Manager-level candidates or 10+ years for Senior Manager.
• Bachelor’s degree in CS, Data Science, Artificial Intelligence, Statistics, Engineering, Risk Mgmt or related.
• Experience in AI, Data Science, ML, Model Risk Management, or related disciplines.
• Strong understanding of AI model lifecycle, governance, and control frameworks.
• Experience in financial services or a highly regulated industry.

Responsibilities

• Provide independent second-line oversight and challenge of AI model risk management and monitoring.
• Review medium- and high-risk AI initiatives for proper risk identification and escalation.
• Evaluate AI/ML methods, data quality, testing, performance metrics, and monitoring.
• Assess risks with Generative AI, LLMs, foundation models, and third-party AI.
• Conduct risk-based reviews, thematic assessments, and portfolio-level risk work.
• Evaluate Line 1 validation, governance, monitoring, and risk outcomes.
• Develop independent opinions, recommendations, and risk-based positions with evidence.
• Produce executive risk assessments and governance materials for committees.
• Translate complex findings into business and governance implications for stakeholders.
• Contribute to enhanced AI model risk policies, training, and oversight practices.

Skills

AI/ML expertise

Risk management

Model validation

Governance

Stakeholder challenge

Communication

French (asset)

Education

Bachelor's degree in CS / Data Science / AI

Tools

Python

SQL

R

Data visualization

Job description

Manulife is seeking an experienced Manager / Senior Manager, AI Model Risk Oversight & Challenge, to provide independent second-line oversight and effective challenge of AI model risk management practices across the enterprise. This role offers a unique opportunity to influence the safe and responsible adoption of AI by assessing the effectiveness of risk management, validation, monitoring, and governance activities for medium- and high-risk AI initiatives. The successful candidate will leverage strong AI, machine learning, and data science expertise to identify emerging risks, challenge technical and business stakeholders, and provide actionable insights to senior management and governance committees. Working at the forefront of Generative AI and Agentic AI oversight, this role will help shape how AI risks are understood, monitored, and managed across the organization.

Position Responsibilities:

• Provide independent second-line oversight and challenge of AI model risk management practices, validation outcomes, risk assessments, controls, and monitoring activities.
• Review medium- and high-risk AI initiatives to assess whether model risks have been appropriately identified, assessed, mitigated, monitored, and escalated.
• Evaluate AI and machine learning methodologies, model design, data quality, testing approaches, performance metrics, and monitoring practices.
• Assess risks associated with Generative AI, large language models, foundation models, retrieval-augmented generation (RAG), third-party AI solutions, and Agentic AI applications.
• Conduct risk-based reviews, thematic assessments, and sampling activities to identify emerging risks, recurring weaknesses, and portfolio-level concerns.
• Evaluate the quality and effectiveness of Line 1 validation, governance, monitoring, and risk management outcomes.
• Develop and communicate independent opinions, recommendations, and challenge positions supported by evidence and risk analysis.
• Produce executive-ready risk assessments, management reporting, thematic reviews, and governance committee materials.
• Translate complex technical findings into clear business, governance, and risk implications for senior stakeholders.
• Contribute to the continuous enhancement of AI model risk management policies, methodologies, training materials, and oversight practices.

Required Qualifications:

• 7+ years of relevant experience for Manager-level candidates or 10+ years for Senior Manager-level candidates.
• Bachelor’s degree in Computer Science, Data Science, Artificial Intelligence, Statistics, Mathematics, Engineering, Risk Management, Business, or a related discipline.
• Experience in AI, Data Science, Machine Learning, Model Risk Management, Model Validation, Technology Risk, Analytics Risk, or related disciplines.
• Experience reviewing technical documentation, model validation results, testing evidence, monitoring outcomes, and risk assessments.
• Strong understanding of AI model lifecycle management, model risk concepts, governance practices, and control frameworks.
• Experience working with AI and machine learning solutions within financial services or another highly regulated industry.
• Demonstrated ability to challenge technical stakeholders and influence senior leaders.
• Bilingualism (English and French) is a strong asset. If the successful candidate is in Québec, proficiency in both languages will be required to support clients from various provinces outside of Quebec.

Preferred Qualifications:

• Advanced understanding of AI Model Risk Management frameworks and model lifecycle governance.
• Experience assessing risks associated with Generative AI, large language models, foundation models, retrieval-augmented generation (RAG), and Agentic AI.
• Practical familiarity with Python, SQL, R, machine learning environments, or analytical tools.
• Experience conducting model reviews, validation activities, independent challenge, or technical risk assessments.
• Knowledge of responsible AI principles, explainability, fairness, bias management, robustness, and model monitoring practices.
• Familiarity with emerging regulatory requirements and industry standards relating to AI, model risk, and technology risk management.
• Experience preparing executive reporting, governance committee materials, or portfolio-level risk insights.

When you join our team:

• We’ll empower you to learn and grow the career you want.
• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
• As part of our global team, we’ll support you in shaping the future you want to see.

#Li-Hybrid

The role being advertised is an existing vacancy.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [e-mail].

Referenced Salary Location

Toronto, Ontario

Working Arrangement

Hybrid

Salary range is expected to be between

$113,000.00 CAD - $163,000.00 CAD

Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. If you are applying for this role outside of the primary location, please contact [e-mail] for the salary range for your location.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact [e-mail] for more information about U.S.-specific paid time off provisions.

We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.